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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Apr 13, 2024
Vertex Pharma to Acquire Alpine Immune Services
Image: Vertex Pharma’s shares have had a nice run the past couple years. On April 10, Vertex Pharma announced that it had entered into an agreement where Vertex will acquire Alpine Immune Services for $65 per share or ~$4.9 billion in cash. We have no qualms with the deal for Alpine, and we expect Vertex Pharma to continue to deliver for shareholders.
Apr 11, 2024
Fastenal Puts Up Mixed First Quarter Results
Image: Fastenal reported mixed first quarter 2024 results. We like its business model quite a bit. On April 11, Fastenal Company reported mixed first-quarter fiscal 2024 results with revenue and earnings per share coming in slightly lower than expectations. Net sales advanced 1.9% for the three-month period ending March 31. The company noted that adverse weather impacted sales in its first quarter by about 10 to 30 basis points on a net basis. Operating income nudged lower in the quarter modestly, while net income advanced 0.9% in the period on a year-over-year basis. Diluted earnings per share was roughly flat in the quarter on a year-over-year basis, increasing 0.6% from the same period a year ago. We like Fastenal’s business model quite a bit, and shares yield ~2.1% at the time of this writing.
Apr 10, 2024
Delta Reports Strong March Quarter; Airline Stocks are Too Risky for Our Taste
Image Source: Colin Brown. Delta’s quarter ending in March was solid, and its full year outlook was encouraging. In general, however, we don’t like airline equities. The extreme ticket price transparency creates an ultra-competitive environment, and overcapacity is always a concern. We view airlines as merely trading vehicles on the health of the global economy and the trajectory of crude oil prices. Delta is operating well, but it will never be able to escape the challenges of its industry, and for those reasons we remain on the sidelines with respect to shares.
Apr 6, 2024
Crown Castle Under Activist Fire
Image: Crown Castle's shares have been under pressure the past couple years. Crown Castle continues to deal with activist pressure from Elliott Investment and founder Ted Miller (Boots Capital Management).
Apr 5, 2024
Dividend Increases/Decreases for the Week of April 5
Let's take a look at firms raising/lowering their dividends this week.
Apr 4, 2024
ConAgra’s ESG Initiatives Noble; Near-5% Dividend Yield Supported By Free Cash Flow
Image Source: ConAgra. ConAgra’s third-quarter fiscal 2024 results were decent, with the company showcasing strong free cash flow generation and further debt reduction. Year-to-date free cash flow at ConAgra totaled ~$1.2 billion versus $436 million during the same period a year ago. Cash dividends paid were $492 million over the same time, so ConAgra is doing a good job covering its dividend obligations with traditional free cash flow. We view this as a distinct positive for a company yielding ~4.8% at the time of this writing and think ConAgra is a consideration for investors seeking free-cash-flow covered yields and strong ESG initiatives.
Apr 3, 2024
Gilead’s 4%+ Dividend Yield Covered Nicely with Free Cash Flow
Image: Gilead’s coverage of its dividend with free cash flow remains rock-solid. What we like about Gilead is that the company remains a very strong free cash flow generator, with the measure coming in at $7.4 billion during 2023 versus dividend payments of $3.8 billion. On a free cash flow coverage basis, Gilead 4%+ dividend yield looks rock-solid, and for this, we think investors may be wise to get paid to wait for upcoming catalysts within Gilead’s HIV and oncology pipeline.
Apr 3, 2024
Phillips 66 Raises Dividend 10%!
Refiner and High Yield Dividend Newsletter portfolio idea Phillips 66 declared on April 3 a quarterly dividend of $1.15 per share on its common stock, reflecting a 10% payout increase. We continue to like shares and will update our dividend report on the company soon.
Apr 2, 2024
Best Buy’s Free Cash Flow Comes Up Short in Covering Dividend
Image Source: Mike Mozart. For fiscal 2024, Best Buy generated ~$1.47 billion in operating cash flow and spent $795 million in capital spending, resulting in free cash flow of $675 million, below what it paid in dividends on the year ($801 million). That didn’t stop Best Buy from upping its dividend 2%, however, and the company continues to buy back stock. Best Buy yields ~4.6% at the time of this writing, but capital spending and volatile operating cash flow are two considerations top of mind for income-oriented investors.
Apr 2, 2024
RTX Ends Year with Record Backlog, Shares Yield ~2.4%
Image Source: RTX. With the Russia-Ukraine war and the Israel-Hamas wars still raging, geopolitical tensions continue to be elevated, playing into the hands of defense contracts such as RTX. With an attractive commercial portfolio to boot, RTX is poised to continue to capitalize on both original equipment and higher-margin after-market commercial aerospace sales, too. We’re fans of RTX, and the firm looks to be moving past a costly recall associated with its Pratt & Whitney geared turbofan engines. Shares yield ~2.4% at this time.


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